Dearborn, Michigan (April 1, 2018)-- AAA Michigan reports that the statewide average daily gas price decreased about 2 cents. Michigan’s current daily statewide average is about $2.69 per gallon, about 2 cents less than last week’s average and about 24 cents more than this same time last year.

Metro Detroit’s average daily gas price increased about 2 cents. Metro Detroit’s current average is about $2.70 per gallon, about 2 cents more than last week’s average and about 27 cents more than this same time last year.

Of the ten Michigan metro areas surveyed by AAA for self-serve unleaded fuel prices, the lowest average price can be found in the Flint area, where it’s about $2.67 a gallon. The highest average price can be found in the Ann Arbor area, where it’s about $2.73 a gallon.

According to the latest reports from AAA:

State Michigan ranked:

< >in the nation for most expensive average daily gas price< >in the nation for the largest weekly average daily gas price increase (-2 cents)The Great Lakes and Central states saw gas price increases and decreases.

Gasoline inventories dropped.

Overall, inventory levels stand just below this time last year, but above the five-year average for this time of year.

National

A Baker Hughes active rig count report that revealed the U.S. lost seven active rigs last week

If next week’s EIA report shows another inventory build, driven by record-setting oil production, prices may move lower as it shows that global crude supplies may be on the rise again.

Global

The crude data signaled that OPEC’s production reduction agreement with other large producers, including Russia, is helping to drain global crude supplies and lift the price per barrel. T

The reduction agreement will be in effect through the end of 2018, and it may extend into 2019.

In a recent interview, Saudi Arabia’s Energy Minister Khalid al-Falih said that OPEC would need to continue coordinating with non-OPEC countries in the agreement on what measures to take to curb global crude supplies in 2019.

The supply reduction agreement, which has been in place since January 2017, has helped participating countries remove 1.8 million b/d from global crude supplies.

While the agreement has been in place there has been a reduction in the global supply in crude — which has also helped to lift the price.

An extension of the current agreement will likely push prices up and supplies down further.

Regular Unleaded GasCurrent and Past Price Averages

Sunday

Week Ago

Year Ago

National

2.657

2.607

2.322

Michigan

2.695

2.716

2.450

Ann Arbor

2.736

2.752

2.477

Benton Harbor

2.681

2.701

2.441

Flint

2.673

2.747

2.433

Grand Rapids/Muskegon/Holland

2.695

2.759

2.461

Jackson

2.734

2.772

2.480

Lansing/E. Lansing

2.675

2.749

2.444

Marquette

2.688

2.644

2.223

Metro Detroit

2.705

2.684

2.434

Saginaw/Bay City/Midland

2.721

2.753

2.462

Traverse City

2.720

2.728

2.451

Gas Price Survey MethodologyEvery day up to 130,000 stations in the nation and more than 4,200 stations in Michigan are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline. AAA updates fuel price averages daily at www.GasPrices.AAA.com.The next Gas Price Primer will be emailed on Sunday, April 8, 2018

AAA in Michigancelebrated its 100th Anniversary - A Century of Service in 2016 and has over 1.4 million members across the state. It is part of The Auto Club Group (ACG). Connect with us on Facebook and LinkedIn.The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, financial services and travel offerings to over 9.5 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 58 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile. AAA clubs can be visited on the Internet at AAA.com.

About The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, travel, insurance and financial services offerings to approximately 9 million members across 11 states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with nearly 55 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety.

About Auto Club Group Traffic Safety Foundation
Established by AAA – The Auto Club Group in 2010, Auto Club Group Traffic Safety Foundation, Inc. (ACGTSF) is a 501(c)(3) non-profit organization and public charity dedicated to producing a significant and continuous reduction in traffic crashes, injuries and deaths in the communities targeted by its efforts. ACGTSF provides programs, education and outreach to increase public awareness about the importance of traffic safety and improve driving behavior. ACGTSF is funded by voluntary, tax-deductible contributions from organizations and individuals who support ACGTSF’s purpose.